Insider Selling: Pagaya Technologies Ltd. (NASDAQ:PGY) Insider Sells 238,004 Shares of Stock

Pagaya Technologies Ltd. (NASDAQ:PGY) insider Yahav Yulzari sold 238,004 shares of the company’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $15.16, for a total transaction of $3,608,140.64. Following the transaction, the insider now owns 4,346,141 shares in the company, valued at approximately $65,887,497.56. The trade was a 5.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Pagaya Technologies Price Performance

NASDAQ PGY opened at $15.06 on Thursday. The business has a 50 day simple moving average of $10.92 and a 200 day simple moving average of $10.81. Pagaya Technologies Ltd. has a 52-week low of $8.20 and a 52-week high of $19.20. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.17 and a current ratio of 1.17. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of -2.74 and a beta of 5.88.

Pagaya Technologies (NASDAQ:PGY) last posted its earnings results on Thursday, February 13th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.32). Pagaya Technologies had a positive return on equity of 0.82% and a negative net margin of 39.20%. The business had revenue of $279.39 million for the quarter, compared to the consensus estimate of $264.28 million. During the same period in the previous year, the company posted $0.24 earnings per share. Analysts anticipate that Pagaya Technologies Ltd. will post 0.88 earnings per share for the current fiscal year.

Institutional Trading of Pagaya Technologies

Large investors have recently bought and sold shares of the business. R Squared Ltd bought a new stake in Pagaya Technologies during the 4th quarter worth approximately $30,000. Virtus Advisers LLC bought a new stake in Pagaya Technologies during the 1st quarter worth approximately $35,000. GAMMA Investing LLC increased its stake in Pagaya Technologies by 5,431.3% during the 1st quarter. GAMMA Investing LLC now owns 4,425 shares of the company’s stock worth $46,000 after purchasing an additional 4,345 shares in the last quarter. Pilgrim Partners Asia Pte Ltd bought a new stake in Pagaya Technologies during the 4th quarter worth approximately $43,000. Finally, Nisa Investment Advisors LLC bought a new stake in Pagaya Technologies during the 4th quarter worth approximately $57,000. 57.14% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on PGY shares. Canaccord Genuity Group restated a “buy” rating and set a $25.00 target price on shares of Pagaya Technologies in a research report on Thursday, February 13th. Citigroup upgraded shares of Pagaya Technologies from a “neutral” rating to a “buy” rating and increased their price target for the company from $13.00 to $14.50 in a research report on Friday, February 7th. Benchmark reiterated a “buy” rating and issued a $25.00 price target on shares of Pagaya Technologies in a research report on Monday, March 17th. B. Riley reiterated a “buy” rating and issued a $36.00 price target on shares of Pagaya Technologies in a research report on Monday, March 17th. Finally, JMP Securities increased their price target on shares of Pagaya Technologies from $25.00 to $26.00 and gave the company a “market outperform” rating in a research report on Friday, February 14th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $20.61.

Pagaya Technologies Company Profile

Pagaya Technologies Ltd., a product-focused technology company, deploys data science and proprietary artificial intelligence-powered technology for financial institutions and investors in the United States, Israel, the Cayman Islands, and internationally. The company develops and implements proprietary artificial intelligence technology and related software solutions to assist partners to originate loans and other assets.